January 16, 2009 | by Inficon
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January 16, 2009, Bad Ragaz/Switzerland. INFICON Holding AG (SIX Swiss Exchange: IFCN), a worldwide leading provider of instrumentation and process control software for advanced industrial vacuum processes, is reducing the revenue expectations for the fiscal year 2008 to a range of USD 255 million to USD 257 million and announces group-wide cost reductions. INFICON will release detailed financial results for the fourth quarter and the full year on Tuesday, February 24. 2009.
INFICON is reducing its 2008 revenue expectations due to the global economic slowdown to a range of USD 255 million to USD 257 million from previously USD 260 million to USD 270 million. This range still represents a solid revenue increase compared with the USD 236.6 millions recorded for 2007. The operating income for 2008 will be approximately at the 2007 level. INFICON will also take a series of actions to align its cost structure to the current market conditions. Throughout the worldwide organization, there will be tightly limited discretionary spending, some reductions of the overall workforce as well as work-time reductions.
Publication of full financial results on February 24, 2009 INFICON will discuss further details and present its financial results for the fourth quarter as well as the full financial year 2008 in a press release that will be issued internationally at 07.00 a.m. CET on Tuesday, February 24, 2009.
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Source: Inficon, Press release